A NEW FORM OF EXCHANGE
"In all the exchange that goes on now between Sweden and Germany, the Swedes refuse to accept gold. The ' Germans have been trying to make the Swedes take gold,, but the latter have absolutely refused. They have invented a form of exchange based on man hours. The man-hours exchange is quite new and it works in the most extraordinary way. More man-hours are needed to. raise iron ore than to raise coal. The result is that the Swedes are now working their exchanges upon a basis of equivalent man-hours rather than upon gold, a.n<3i it is a much more equitable arrangement. It means that the Germans have to work longer to get the exchange, arid that they cannot get what they want by giving Sweden stolen gold. That is important."—Sir R. Glyn, M.P., in the House of Commons.
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Bibliographic details
Ellesmere Guardian, Volume 65, Issue 98, 14 December 1943, Page 3
Word Count
143A NEW FORM OF EXCHANGE Ellesmere Guardian, Volume 65, Issue 98, 14 December 1943, Page 3
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